The only way to get life-saving shots to everyone, she argued, would be by helping as many companies as possible to manufacture them and by setting up systems of distribution to get them where they’re needed. In early 2020, she was one of the few voices warning that low- and middle-income countries could not rely on donations alone to vaccinate their people. Keller said the combined Chevron and Gulf payroll has been reduced from 60,000 to 40,000 employees by early retirement programs, the sale of some assets and natural attrition.įurther staff reductions will be made - particularly in the combined refining and marketing area with surplus capacity of about 300,000 barrels a day - now that both partners can exchange market information following final government clearance of the merger last week, he said.This UN leader knew that vaccine equity wouldn’t happen without a fight.īefore vaccines for COVID-19 even existed, Winnie Byanyima knew that distributing them equitably would be a challenge. In 1984 Chevron earned $1.59 billion, or $4.65 a share, on revenues of $29.18 billion. 'The cost of the merger will offset most of Gulf's contribution.'
'Our 1985 earnings will be in the same ball park as last year if international crude oil prices hold at current levels and if there is a modest increase in refining and marketing margins,' he said.
Keller said the combined Chevron-Gulf company has allotted slightly more than $5 billion for capital, exploration and production spending in 1985, down from about $5.5 billion for both firms in 1984.Ĭhevron, which wanted Gulf primarily because of its domestic oil, gas and chemical asssets, plans to spend more than 70 percent of its exploration and production budget in North America this year, he said. 'The stock market is looking overwhelmingly at the short-term,' he said.
Keller also pointed out that corporate raiders are forcing a restructuring of the oil industry among the least resistant companies, whose stock is selling far under their asset worth.
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